Before you sign that legal agreement, read this

Read this before you sign that legal agreement January 24, 2013 by Guest Contributor Don't bind yourself legally without knowing what the agreement's about. Image: Vectorportal A recent post on e27 highlighted a hackathon known as Hackit that required winning participants (who were only informed after they have won) to give up their IP rights for the works that they have created in the course of the hackathon in exchange for the prize money. An excerpt of the agreement posted by e27 is as follows: “I acknowledge that exclusively license the subject matter referred to as a AMTD HackIT App or FOX TWO HackIT App (all of the above collectively referred to as “Intellectual Property” for short) with fees free and royalty free to AMTD. In particular, I acknowledge that I do not have, have never had, and shall not claim to have, any royalties or other equitable or legal rights in ...